Tortorella's Rant Posted April 17, 2021 Share Posted April 17, 2021 Over 700k in Canada for a house. Link to comment Share on other sites More sharing options...
nuckin_futz Posted May 5, 2021 Share Posted May 5, 2021 What's going on with housing prices? Ever tried to build a house without Lumber or Copper piping? Lumber price chart Copper price chart. Good thing the Federal Reserve, Bank of Canada, European Central Bank, Bank of England etc all insist there is no inflation and if there is it will simply pass like a fart in the wind. 1 Link to comment Share on other sites More sharing options...
Russ Posted May 6, 2021 Share Posted May 6, 2021 (edited) 14 hours ago, nuckin_futz said: What's going on with housing prices? Ever tried to build a house without Lumber or Copper piping? Lumber price chart Copper price chart. Good thing the Federal Reserve, Bank of Canada, European Central Bank, Bank of England etc all insist there is no inflation and if there is it will simply pass like a fart in the wind. Chatted with our realtor, he has a client who is building a home, was quoted 25k to just bring power from road to her house, ended up being over 50k, she called her crying that the increase was killing her. Another electrician buddy of his is doing a bunch of condo buildings, priced things out, his supplier has gone up 40% last 3 months and told him its going up another 10% in the next little bit. He ended up buying 2 shipping containers of wire just to try and keep his costs from inflating so much, I can't imagine what 2 shipping containers cost him.. Wife is hell bent on building a house now, told her if she wants to she has to get a builder and lock down prices in writing because I am not going into a build where suddenly prices are getting jacked up on us. I am not looking forward to the idea of building, rather get a home on a smaller lot already done. These prices are just insane. Edited May 6, 2021 by Russ Link to comment Share on other sites More sharing options...
Boudrias Posted May 6, 2021 Share Posted May 6, 2021 3 hours ago, Russ said: Chatted with our realtor, he has a client who is building a home, was quoted 25k to just bring power from road to her house, ended up being over 50k, she called her crying that the increase was killing her. Another electrician buddy of his is doing a bunch of condo buildings, priced things out, his supplier has gone up 40% last 3 months and told him its going up another 10% in the next little bit. He ended up buying 2 shipping containers of wire just to try and keep his costs from inflating so much, I can't imagine what 2 shipping containers cost him.. Wife is hell bent on building a house now, told her if she wants to she has to get a builder and lock down prices in writing because I am not going into a build where suddenly prices are getting jacked up on us. I am not looking forward to the idea of building, rather get a home on a smaller lot already done. These prices are just insane. No doubt some gouging going on but many companies are faced with cost increases for inputs. Capital investment for many companies have been cut back. I can beat your electrical example. My nephew was putting in a new septic system and got a price of $35,000. He phoned another contractor and got the job done for $13,000. Link to comment Share on other sites More sharing options...
Sp3nny Posted May 6, 2021 Share Posted May 6, 2021 (edited) 5 hours ago, Russ said: Chatted with our realtor, he has a client who is building a home, was quoted 25k to just bring power from road to her house, ended up being over 50k, she called her crying that the increase was killing her. Another electrician buddy of his is doing a bunch of condo buildings, priced things out, his supplier has gone up 40% last 3 months and told him its going up another 10% in the next little bit. He ended up buying 2 shipping containers of wire just to try and keep his costs from inflating so much, I can't imagine what 2 shipping containers cost him.. Wife is hell bent on building a house now, told her if she wants to she has to get a builder and lock down prices in writing because I am not going into a build where suddenly prices are getting jacked up on us. I am not looking forward to the idea of building, rather get a home on a smaller lot already done. These prices are just insane. As an electrician, I can tell you if the power is above ground and they are doing poles, hydro charges around $10k a pole, so it adds up fast if its not close to the road. If it's underground it's a different story, but then your moving the costs to an excavation company. $50k seems pretty steep though. If it was quoted at $25k, how can they get away with double? The whole point of a quote is a fixed cost. Surely something changed. Copper prices have been on the rise for sure, along with other materials. I don't do much of our billing, so I'm not privy to all our pricing, but I'm sure I would have heard about a 40% increase. That seems a bit steep as well, but who knows... Edited May 6, 2021 by Sp3nny Link to comment Share on other sites More sharing options...
Russ Posted May 6, 2021 Share Posted May 6, 2021 1 hour ago, Sp3nny said: As an electrician, I can tell you if the power is above ground and they are doing poles, hydro charges around $10k a pole, so it adds up fast if its not close to the road. If it's underground it's a different story, but then your moving the costs to an excavation company. $50k seems pretty steep though. If it was quoted at $25k, how can they get away with double? The whole point of a quote is a fixed cost. Surely something changed. Copper prices have been on the rise for sure, along with other materials. I don't do much of our billing, so I'm not privy to all our pricing, but I'm sure I would have heard about a 40% increase. That seems a bit steep as well, but who knows... Maybe it was some of the inside electrical to or something. I'm not sure with an the details but I guess somehow it was set up with cost of materials and not a straight up solid quote. Still doesn't make me excited about the idea of building lol Link to comment Share on other sites More sharing options...
Sp3nny Posted May 6, 2021 Share Posted May 6, 2021 13 minutes ago, Russ said: Maybe it was some of the inside electrical to or something. I'm not sure with an the details but I guess somehow it was set up with cost of materials and not a straight up solid quote. Still doesn't make me excited about the idea of building lol Would make more sense. Things change so often honestly, it's almost impossible to come in on budget on bigger jobs. Coming in double is a pretty tough pill to swallow. I'm getting tempted to put my place up for sale and potentially build too, but it can be such a hassle. Link to comment Share on other sites More sharing options...
Russ Posted May 12, 2021 Share Posted May 12, 2021 (edited) On 5/6/2021 at 11:36 AM, Sp3nny said: Would make more sense. Things change so often honestly, it's almost impossible to come in on budget on bigger jobs. Coming in double is a pretty tough pill to swallow. I'm getting tempted to put my place up for sale and potentially build too, but it can be such a hassle. Have you seen the price of lots though? Its stupid..... Thats the other major issue the lot prices keep going higher Well last 2 weeks lots less listed in the valley so thats not good for me looking Edited May 12, 2021 by Russ Link to comment Share on other sites More sharing options...
taxi Posted May 12, 2021 Share Posted May 12, 2021 On 5/6/2021 at 4:30 AM, Russ said: Chatted with our realtor, he has a client who is building a home, was quoted 25k to just bring power from road to her house, ended up being over 50k, she called her crying that the increase was killing her. Another electrician buddy of his is doing a bunch of condo buildings, priced things out, his supplier has gone up 40% last 3 months and told him its going up another 10% in the next little bit. He ended up buying 2 shipping containers of wire just to try and keep his costs from inflating so much, I can't imagine what 2 shipping containers cost him.. Wife is hell bent on building a house now, told her if she wants to she has to get a builder and lock down prices in writing because I am not going into a build where suddenly prices are getting jacked up on us. I am not looking forward to the idea of building, rather get a home on a smaller lot already done. These prices are just insane. It's nuts right now. I can't tell if this is inflation or supply issues. The cost of basic food items, like dairy and meat, also seems to be rising. As does the cost of gas. Link to comment Share on other sites More sharing options...
Gurn Posted May 12, 2021 Share Posted May 12, 2021 Radio station in Powell River saying the average price of a home sold in April was $ 547,632 up about 60%, from previous April. The assessed value of my place went up 24% over the last year. My wages, did not. Link to comment Share on other sites More sharing options...
TheRocket18 Posted May 13, 2021 Share Posted May 13, 2021 good ol chqb. Link to comment Share on other sites More sharing options...
Warhippy Posted May 14, 2021 Share Posted May 14, 2021 (edited) So we've reached the point where the bubble is going to start popping soon. When THIS in a small town in BC is worth this price, it's over. Inflation fears are creeping in, building costs are astronomical now thus exacerbating the pricer per new unit This is labeled as a 2 bed 3 bath condo, but truth is it's actually just a part of a 4 plex. Generic "amenities" to make it look upscale. On one of the worst corners in the city for traffic and vagrancy https://www.royallepage.ca/en/property/british-columbia/penticton/604-110-ellis-street/14637790/mls188364/ Edited May 14, 2021 by Warhippy Link to comment Share on other sites More sharing options...
Gurn Posted May 14, 2021 Share Posted May 14, 2021 4 hours ago, TheRocket18 said: good ol chqb. Ahh, the old days. Coast Fm has taken over. Not sure when Chqb died, but I'd guess more than a decade ago. 1 Link to comment Share on other sites More sharing options...
Russ Posted May 15, 2021 Share Posted May 15, 2021 So people are now looking for rental agreements before even buying homes? If someone can afford 14k a month I'm betting they are just buying. Link to comment Share on other sites More sharing options...
Violator Posted May 15, 2021 Share Posted May 15, 2021 Saw a story of a condo on Vancouver Island going for nearly one million over asking. Seems pretty fishy https://nationalpost.com/news/canada/1-million-over-asking-house-prices-in-rising-tide-all-over-vancouver-island Link to comment Share on other sites More sharing options...
DeNiro Posted May 15, 2021 Share Posted May 15, 2021 (edited) 22 minutes ago, Violator said: Saw a story of a condo on Vancouver Island going for nearly one million over asking. Seems pretty fishy https://nationalpost.com/news/canada/1-million-over-asking-house-prices-in-rising-tide-all-over-vancouver-island Should be illegal. Clearly it’s illegitimate money at the very least. It’s only hurting people that live here. Edited May 15, 2021 by DeNiro Link to comment Share on other sites More sharing options...
Russ Posted May 17, 2021 Share Posted May 17, 2021 On 5/15/2021 at 12:31 PM, Violator said: Saw a story of a condo on Vancouver Island going for nearly one million over asking. Seems pretty fishy https://nationalpost.com/news/canada/1-million-over-asking-house-prices-in-rising-tide-all-over-vancouver-island "The condominium townhome on a dead-end street was priced at $1.4 million, but sold at nearly $2.4 million, the listing agent, who did not want to be named, told the island’s CHEK News. The buyer was not disclosed, nor were photos available of the property." Good thing the feds are propsing that 1% foreign buyers tax... that'll really make this go for only 990k over instead of 1 mill over.... Link to comment Share on other sites More sharing options...
Violator Posted May 17, 2021 Share Posted May 17, 2021 2 hours ago, Russ said: "The condominium townhome on a dead-end street was priced at $1.4 million, but sold at nearly $2.4 million, the listing agent, who did not want to be named, told the island’s CHEK News. The buyer was not disclosed, nor were photos available of the property." Good thing the feds are propsing that 1% foreign buyers tax... that'll really make this go for only 990k over instead of 1 mill over.... That same property I can almost guarantee will be sold later to someone legally for alot more it might even push prices up of the other condos. Link to comment Share on other sites More sharing options...
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